| Tax % | Calculation of Ontario Land Transfer Tax | Calculation of Toronto Land Transfer Tax |
|---|---|---|
| 0.5 % | on the first $55,000 | on the first $55,000 |
| 1.0 % | on portion between $55,000 – $250,000 |
on portion between $55,000 – $400,000 |
| 1.5 % | on balance over $250,000 | |
| 2.0 % | on anything over $400,000 | on anything over $400,000 |
| First Time BUYER -> | Qualifying first time BUYERS receive a $2000 credit |
First time BUYERS are exempt on the first $400,000 |
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